Inc42 and Google Cloud recently held a panel discussion titled Ecommerce Playbook | Choosing The Right Tech Stack For Accelerated Growth, exploring a number of critical areas such as:
- The rise & rise of ecommerce in India
- Decoding the current state of data analytics & AI/ML in ecommerce
- How Tier 2 & Tier 3 cities will drive the next wave of ecommerce growth
- The Future: Keeping up with the rise of ecommerce
Moderated by Kshitij Shah, strategy consultant and former principal at 3one4 Capital, the discussion included Akhil Gupta, CTO of FabAlley; Arshdeep Singh, director (technology) at Kapiva; Rahul Chaudhary, head of technology and product at GlobalBees, and Rajesh Ramdas, head of customer engineering (digital natives) at Google Cloud.
Unlocking The Hidden Power Of The Right Tech Stack For Ecommerce Brands
With the Covid-19 pandemic reshaping the world, customers have adopted online shopping for convenience and safety, leading to unprecedented growth in the ecommerce space.
According to global reports, India is the fastest-growing ecommerce market, given the rise of the digital infrastructure, the presence of multiple players, the emergence of new business models and the shift in consumer behaviour.
Driven by these factors, the ecommerce market in India is set to reach $400 Bn by 2030. According to a Bobble AI report, the sector saw a 77% jump in 2021 compared to the previous year, while the country’s Tier 2 and Tier 3 cities transacted more than ever. To cope with the influx of shoppers and increased competition, ecommerce brands are now heavily investing in cutting-edge technology.
However, picking the right tech stack for a specific ecommerce brand can be a daunting task. The most critical question in this context is: Should the entire tech stack come straight off the shelf? Should it be customised as per the company’s requirements? Or should it be a proprietary solution built in-house?
The ability to stand out, grab customer attention and meet their needs and speed are some of the key components that ecommerce companies should keep in mind while building the right tech stack.
Therefore, ecommerce brands must build and adopt the technology that supports their scalability and long-term growth goals, offers a well-designed and personalised user experience and ensures seamless operations when implementing an omnichannel model.